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Business Model
Model
Model
Business Model
Schedule 1
Sales Budget
For the Year Ended December 31,2013
Particulars
Year
Quarter
1st
2nd
3rd
11,500 34,500
46,000
23
23
23
264,500 793,500 1,058,000
70%
30%
4th
23,000
115,000
23
23
529,000 2,645,000
103,500
130,500
185,150 79,350
264,500
555,450 238,050
793,500
740,600 317,400 1,058,000
370,300 370,300
Schedule 2
Production Budget
For the Year Ended December 31, 2013
Particulars
Budgeted sales
Add: desired ending inventory
Total needs
Less : Beginning inventory
Required production
Q.1
Q.2
11,500
8,625
20,125
2,875
17,250
34,500
11,500
46,000
8,625
37,375
Q.3
Q.4
Year
Schedule 3
Particulars
Required production in cases
Raw materials needed per case
Production needs
Add : Desired ending inventory
Total needs
Less: Beginning inventory
Raw materials to be purchased
Cost of per pound
Cost of raw materials to be purchased
Q.1
17,250
17
293,250
76,245
369,495
35,190
334,305
.30
100,291.5
Q. 2
37,375
17
635,375
82,110
717,485
76,245
641,240
.30
192,372
Q. 3
40,250
17
684,250
50,490
734,740
82,110
652,630
.30
195,789
Q. 4
24,750
17
420,750
45,000
465,740
50,490
415,260
.30
124,578
Year
119,625
17
2,033,625
45,000
2,078,625
35,190
2,043,435
.30
613,030.5
50%
50%
Schedule 4
Direct Labor Budget
For the Year Ended December 31, 2013
Particulars
Required production
DLH per case
Total DLH needed
Direct labor cost per
hour
Total direct labor cost
Q. 1
17,250
.3
5,175
15
77,625
Q. 2
Q.3
Q.4
37,375 40,250 24,750
.3
.3
.3
11,212.5 12,075
7,425
15
15
15
168,187.5 181,125 111,375
Year
119,625
.3
35,887.5
15
538,312.5
Schedule 5
Particulars
Budgeted direct labor
Variable manufacturing overhead rate
Variable manufacturing overhead
Fixed manufacturing overhead
Total manufacturing overhead
Less: depreciation
Cash disbursements for manufacturing
overhead
Total manufacturing overhead(a)
Budgeted direct labor (b)
Predetermined overhead rate for the
year (a)(b)
Q. 1
5175
4
20700
70,000
90700
20,000
Q. 2
11212.5
4
44850
70,000
114,850
20,000
Q.3
12075
4
48300
70,000
118300
20,000
Q.4
7425
4
29700
70,000
99,700
20,000
Year
35887.5
4
143550
280,000
423,550
80,000
70,700
98850
98,300
79700
343550
423550
35887.5
11.802
Schedule 6
Ending Finished Goods Inventory Budget
For the Year Ended December 31, 2013
Item
Production cost per case:
Direct materials
Direct labor
Manufacturing overhead
Unit product cost
Budgeted finished goods inventory :
Ending finished goods inventory in cases
Unit product cost
Ending finished goods inventory in BDT
Quantity
Cost
17 pounds
.30 per pound
.30 hours
15 per hour
.30 hours 11.802 per hour
Total
5.10
4.50
3.54
13.14
7,500
13.14
98,550
Schedule 7
Particulars
11,500
Quarter
2
34,500
3
46,000
4
23,000
115,000
Tk. 2
Tk. 2
Tk. 2
Tk. 2
Tk. 2
Tk.23,000
Tk.69,000
Tk.92,000
Tk.46,000
Tk.230,000
15,000
60,000
8,000
4,000
12,000
15,000
60,000
8,000
4,000
12,000
15,000
60,000
8,000
4,000
12,000
15,000
60,000
8,000
4,000
12,000
60,000
240,000
32,000
16,000
48,000
99,000
99,000
99,000
99,000
396,000
122,000
12,000
168,000
12,000
191,000
12,000
145,000
12,000
626,000
48,000
Tk.110,000
Tk.156,000
1
Budgeted sales in cases
Variable selling and administrative
expense per case
Variable selling and administrative
expense
Fixed selling and administrative
expenses:
Advertising
Executive salaries
Insurance
Property taxes
Depreciation
Total fixed selling and administrative
expenses
Total selling and administrative
expenses
Less: Depreciation
Year
Schedule 8
Particulars
Cash balance,
beginning
Add receipts:
Collection from
customers
Total cash available
Less disbursements:
Direct materials
Direct labor
Manufacturing
overhead
Selling and
administrative
Equipment
purchases
Dividends
Total disbursements
Excess(deficiency) of cash
available over disbursements
Financing:
Borrowings(at the
beginning of
quarters)
Repayments(at
end of the year)
Interest
Total financing
Cash Budget
For the Year Ended December 31, 2013
Schedule
Q.1
Q.2
Tk.46,700
Q.3
Tk.33,409.25
Q.4
Year
Tk.32,940
Tk.46,700
Tk.286,884.5
288,650
335,350
634,800
668,209.25
9,78,650
1,011,590
3
4
79,815.75
77,625
146,331.75
168187.5
194,080.50
181,125
84,500
124,750
130,500
110,000
156,000
179,000
60,000
10,000
421,940.75
40,000
10,000
645,269.25
30,000
10,000
724,705
(86,590.75)
22,940
286,884.5
687,700
97,458,415
160,183.5
111,375
2,589,800
2,636,500
580,411.5
538,312.5
439,250
99,500
578,000
133,000
20,000
10,000
534,058.5
150,000
40,000
2,325,974
310,526
440,526
120,000
10,000
130,000
120,000
10,000
(130,000)
(15,300)
(15,300)
Tk. 33,409.25
Tk. 32,940
Tk. 286,884.5
(130,000)
(15,300)
(145,300)
Tk. 2,950,226
Tk. 2,950,226
Schedule 9
Budgeted Income Statement
For the Year Ended December 31, 2013
Particulars
Schedules
Sales
Cost of goods sold
Gross margin
Selling & administrative expenses
Net operating Income
Interest expense
Net Income
1
1,6
7
8
Tk.
2,645,000
1,948,100
696,900
626,000
70,900
15,300
Tk. 55,600
Schedule 10
Assets
Current assets :
Cash
A/C Receivable
Raw materials inventory
Finished goods inventory
Total current assets
Plant & equipment:
Land
Buildings & equipment
Accumulated depreciation
Plant & equipment, net
Total assets
Liabilities & Stockholders Equity
Current liabilities:
A/C payable (raw materials)
Stockholders equity:
Common stock
Retained earnings
Total stockholders equity
Total liabilities & stockholders equity
46,700
103,500
10,560
37,740
198,500
100,000
600,000
(122,000)
578,000
Tk. 776,500
29,650
300,000
446,850
746,850
Tk. 776,500
(1)
Actual hours of input at
the actual rate, TK.,
(AH*AR),
35000 hours*13 per
hour=tk.455000
(2)
Actual hours of input at
the standard rate,
(AH*SR)
35000 hours*15per
hour=tk.525000
(3)
Standard hours allowed
for actual output at the
standard price ,(SH*SR)
30000 hours*15 per
hour=450000
Variance Analysis
Variable Manufacturing Overhead
Actual hours of
Actual hours of
input at the actual rate ,
input at the standard
(AH*AR) ,TK.,
rate,(AH*SR)
(1)
(2)
35000 hours*3 per
35000 hours *4 per
hour=105000
hour=140000
Standard hours
allowed for actual output
at the standard rate
(SH*SR) (3)
30000 hours*4 per
hour =120000
Findings
At